After a very painful 6.5 month journey to sell my BTL to fund my new HMO venture. 3 weeks ago I completed on the sale of my BTL and 3 weeks to the day later I have just received confirmation of offer accepted on a new property purchase in Newport, Wales! 😀 Details of the Purchase Existing 3 bed terraced - 5 Bed HMO conversion Purchase Price: £185k Renovation Costs + Planning: £60k GDV: £250k ROI: 21% Cash Left in Deal: £73k Gross Profit: £1,253 per month Company Set up: JV between my uncle and my Ltd companies. There is still a long road ahead due to Newport being in an article 4 area so this will require full planning however i have been verifying my viewings with a planner so confident it stands a chance of being approved. I am hoping to commence planning in the next fortnight and should have confirmation (or not) by the end of this year. While not a dead cert it feels like a huge relief to be finally up and running! I genuinely couldn't have even comprehended doing this 5 months ago but I am now feeling confident I can do this. It’s great to see so many communities of people will to share best practise and help others become successful.